"I've put together a group of articles that will help you make a powerful decision when buying
or selling a home. They will answer some of your questions about the process as well as raise
important questions that you might not have considered. Buying or selling a home is such a huge
decision that I consider it my duty to help make you truly informed. When you have any
more questions to ask---and you will---please know that I am always only a phone call
away!"
Sincerely,
Joel Wissing
Escrow and Settlement
In California we use escrow to act as an "independent third party to the
contract" between the buyer and seller. What escrow does is to follow the executed (signed)
contract to disburse money and title to the appropriate parties. The key to understanding this
process is to know that if the contract is not fulfilled then the money nor the title will be
dispersed.
Escrow will be determined in the negotiations, who you choose is an important
part in the co-ordination and the timing of the close of the transaction. Make your choice
part of your offer. This is your choice and the buyer or seller might counter the offer based
on these choices in the purchase agreement. Always remember, this is negotiable, nothing is
set in stone. Once your transaction is in escrow the only way you can change anything in the
contract is by mutual consent. Both parties must sign in agreement even to cancel the
contract.
After all the agreements in the contract have been met in escrow, the escrow
company will disperse the funds to the seller and send title to the buyer along with any
mutually agreed upon allowances. Sometimes buyers will receive refunds based on closing
figures. Escrow companies usually provide an estimate of closing costs to the buyer. This is
where the refund will come from because the amount can be higher than actual costs so that the
buyer does not have to come in later with more funds and not be able to close the transaction
in time.
Yes, there is a lot to consider. When you're ready to take the next step you can call me
anytime. For more helpful articles
CLICK HERE.
"Finding the perfect home for you is my pleasure!" - Joel Wissing...
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listening to us and really going the extra mile to make sure our home was exactly what we
wanted---and it is!"
Sincerely,
G. Oldfield
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